Steel Warehouse with Vehicle
For Sale
$185,000
23409 Arrow Dr, Union City, PA 16438
Steel construction, automatic garage doors, and a cement floor provide a functional storage facility.
Property Size1,944 SF
Lot Size0.80 Acres
Price / SF$95.16
Days on Market26
Property Features for 23409 Arrow Dr
General Information
Standard status
Active
Size
1,944 SF
Lot size
0.80 Acres
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
3
Power
200 amps
Taxes and HOA fees
Annual Taxes
$1,234
Building Details
Construction
steel
Listing Agency:
Howard Hanna Erie Southwest
(724) 331-2341
Listed By:
Billie Jo Easterlin
(724) 331-2341
Source:
Exprealty
Added: Jul 30
Changed: Aug 20
Last Checked: Aug 24 at 12:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna Erie Southwest
Investment Insights
Based on property information with market context.
This steel warehouse measures 54x36'6" and offers 1,944 square feet of enclosed storage on a .8-acre parcel with an 180x120 lot. The building includes a cement floor, a 12' insulated ceiling, three 10' tall by 12' wide garage doors with automatic openers, and three man doors. Its 200 Amp electrical service includes two 220 outlets positioned on opposite sides of the structure.
Additional storage is provided by two 11x36 overhangs and a separate 12x14 shed with electric. An exterior water bib adds utility, while the enclosed building can accommodate 8+ vehicles. The property is located at 23409 Arrow Dr in Union City, PA 16438.
Additional storage is provided by two 11x36 overhangs and a separate 12x14 shed with electric. An exterior water bib adds utility, while the enclosed building can accommodate 8+ vehicles. The property is located at 23409 Arrow Dr in Union City, PA 16438.
Key Highlights
- 54x36'6" steel warehouse with 1,944 square feet of enclosed space
- .8‑acre parcel with an 180x120 lot
- (3) 10' tall x 12' wide garage doors with automatic openers
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,600
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$292,000
$292.0K
Cap Rate 7%
$208,571
$208.6K
Cap Rate 9%
$162,222
$162.2K
Market Conditions
NOI Build-Up for 1,944 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.4K $9.48/SF
− Vacancy
−$1.3K −$0.64/SF
EGI
$17.2K $8.84/SF
− OpEx
−$2.6K −$1.33/SF
NOI
$14.6K $7.51/SF
Area
Erie County, PA
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$292,000
Cap Rate 7%
$208,571
Cap Rate 9%
$162,222
Alternative Uses
Best Use
Warehouse
$208.6K
$182.5K – $243.3K
NOI $14,600 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$482.3K
$422.0K – $562.7K
NOI $33,760 @ 7.0% cap · market cap 18.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16438, PA
7,504
Population
4,146
Households
1.8
Avg Household Size
44
Median Age
17%
College-Educated
90%
High-School Grad
102.4 sq mi
ZIP Area
73
Density / Sq Mi
$60,559
Median Household Income
$35,208
Median Earnings
$743
Median Rent
$134,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Steel construction, automatic garage doors, and a cement floor provide a functional storage facility.
Where is this warehouse located?
The property is located at 23409 Arrow Dr Union City, PA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 54x36'6" steel warehouse with 1,944 square feet of enclosed space; .8‑acre parcel with an 180x120 lot; (3) 10' tall x 12' wide garage doors with automatic openers
